WorksheetsCompany
Total questions: 22
Worksheet time: 9mins
A company can buy property in its own name. Which feature does this imply?
Separate legal entity
Artificial person
Perpetual succession
Liability
One of the below mentioned is not a feature of a company. Identify it
Risk bearing
Common seal
Separate legal entity
Professional management
Companies are governed under which act?
Companies Act, 2012
Companies Act, 2013
Companies Act, 2014
Companies Act, 2015
Which feature implies that a company created by law can be closed only by law.
Separate legal entity
Limited liability
Perpetual succession
Common seal
A is a shareholder in a company holding 2,000 shares of Rs.10 each on which he has already paid Rs. 7 per share. His liability in the event of losses or company’s failure to pay debts will be
Rs. 7000
Rs. 6000
Rs. 20,000
Rs. 3000
Tick all the merits of company
Limited liability
Risk bearing
Scope for expansion
Transfer of interest
Maximum number of members in a private company is
Unlimited
50
100
200
Minimum number of members required to start a public company
2
4
6
7
How many minimum directors are required to start a public company?
2
3
1
4
Which is the first stage in the formation of a company?
Promotion stage
Incorporation
Subscription of capital
A promoter has to check availability of raw materials through this feasibility report. Identify it
Financial
Technical
Economic
Social
A promoter can check if his idea will earn good profit or not through this feasibility report. Identify it.
Financial
Technical
Economic
Social
How many names should a company give to the registrar of companies for approval?
1
2
3
4
To act as directors, a person needs to take up ..................shares
Initial
First
No need to take up any shares
Qualification
Which is the most important document of a company?
Memorandum of association
Articles of association
Certificate of Incorporation
Certificate of commencement of business
Which is the most important clause in Memorandum of Association?
Registered office clause
Name clause
Objects clause
Capital clause
How many clauses are there in Memorandum of Association?
4
5
6
7
Tick all the clauses of Memorandum of Association
Name clause
Registered office clause
Objects clause
Liability clause
Which is called the birth certificate of a company
Certificate of business
Certificate of commencement of business
Certificate of corporation
Certificate of incorporation
A private company can start business once it receives the Certificate of Incorporation
True
False
Maybe
As per SEBI guidelines, the minimum subscription received should be ........... % of the issue size
80
85
90
95
Return of allotment signed by a director is filed with registrar within .......days of allotment
25
30
45
60
